Oerlikon has signed an agreement to acquire Metco, a division of Sulzer, for an enterprise value of CHF (Swiss Francs) 1.0 billion. The combined business will have pro-forma sales of CHF 1.2 billion in 2012 and a global footprint with more than 110 coating centers worldwide. This acquisition expands Oerlikon’s presence and capabilities in a core business segment. After careful portfolio shaping, this step marks Oerlikon’s first major transaction to expand its business inorganically. On a pro-forma basis, the group's sales (in 2012) will increase by 24 percent to CHF $3.6 billion.
“This step marks an important milestone for the Oerlikon Group, creating the technologically leading global product and service company for Surface Solutions. We are actively using our financial health and flexibility to shape a high performing portfolio, which secures long-term profitable growth and value creation for all stakeholders in a sustainably growing industrial business close to our core,”says Oerlikon Group CEO Dr. Brice Koch.
The combination of the companies will expand Oerlikon’s market in surface solutions to about CHF 9 billion. The two businesses are complementary in terms of their technological strengths, market access and geographical footprint, enabling them to increasingly meet customer requirements in the years to come. The combined businesses will operate some 130 facilities with more than110 coating centers in 35 countries around the world, employing about 6,000 people.